Compass Datacenters bought by Ontario Teachers' Plan and Brookfield

Brookfield Infrastructure Partners will acquire Compass Datacenters with the company's current investor, Ontario Teachers' Pension Plan. This week, Brookfield Infrastructure, its financial partners, and longtime investor Ontario Teachers' Pension Plan revealed that they had officially agreed to acquire Compass from RedBird Capital Partners and the Azrieli Group. The transaction is anticipated to close by the end of the year, pending the usual regulatory approvals. The transaction terms were not disclosed, but previous reports indicate that the deal's value, including debt, could exceed $5.5 billion.

Chris Crosby, founder and CEO of Compass, and the current Compass management group will continue to oversee the company after the transaction closes, according to Brookfield. Compass will receive "continued strong operational and financial support" from the new ownership structure, the companies claimed, enabling it to carry out its data center campuses across numerous regions.

Compass was founded in 2011 and presently operates or is developing approximately 16 data center sites in the United States, Europe, and Israel. The company also provides modular facilities. The business intends to build a campus with 11 million square feet of data centers in Virginia.